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Understanding Individual Health Insurance in Florida

The new laws and requirements for health insurance can make the entire process seem confusing. However, suppose they take the time to consider needs appropriately. In that case, they will choose the best individual health insurance in Florida.

 

Subsidies

A critical step in finding health insurance is determining whether they qualify for subsidies. If they are eligible, they will help reduce personal costs for monthly premiums or offer tax credits. If they are suitable for support, they will need to choose a plan approved by Florida and the federal government. Insurance companies design these plans to ensure that people with existing conditions can get their coverage.

 

Private Plans

If they did not qualify for a subsidy, they could opt for private plans. There are many options for individual health insurance in Florida. In many cases, private plans may be cheaper than government-issued ones due to the different options available in coverages and benefits.

 

Why Individual Health Insurance in Florida is needed

While health insurance is now a requirement due to Obamacare, they are other reasons to consider health insurance for individuals in Florida. Those who did not sign up for coverage by January 1, 2014, will have to pay the penalty. This penalty can be either $95 for each adult or one percent of the annual income, depending on which is more significant. These penalties increased each year until 2016 when they will be 2.5% of each adult’s yearly income of $695.

Beyond the issue of penalties, there are also other reasons for needing health insurance. This type of insurance will protect them from the unreasonable financial burdens resulting from a severe illness or accident. Medical bills resulting from these events can be financially overwhelming without health insurance for individuals in Florida. These costs can quickly become unmanageable, resulting in the inability to pay. In addition, debt forces many people to file for bankruptcy, which has disastrous results on their credit and future financial stability.

 

Preventative and Primary Care Health Insurance in Florida

The new health laws require insurance companies to cover preventative care costs, including screenings, vaccinations, mammograms, prostate screenings, and colonoscopies. These requirements allow illnesses to be recognized sooner, resulting in fewer health problems and expenses. The laws also require ten health benefit standards to help with direct care costs, such as emergency care, newborn and maternity care, prescription, and outpatient care. These benefits help protect their health so that risks are considerably lower later on.

It is vital to understand the options for health insurance for individuals in Florida to protect their health and comply with the laws. In addition, choosing the best coverage for their needs will prepare them if they ever need medical treatment for illnesses or accidents.

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